BTCUSD small correction before we hit $10K again
Updated
What we see happening here is a small correction with the Elliot Wave (12345) and some support building. The green box shows the $9,300 to $9,520 support area.
Elliott Wave (5) combined with the Red hard support line and the golden $9000 small psychological support line will only make the previous support stronger. After that I expect there will be a upward really again which we can expect to reach 10K. And will be supported by the newly formed support of $9,300 to $9,500.
The golden Log Scale trend-line also indicates the 10K price range. Which the RSI supports further. If you follow the golden trend-line on the RSI chart and the Log Scale trend-line on the BTCUSD chart, it shows a that on the RSI there is a clear overbought sign at roughly the same time the Log Scale hits the 10k Price range.
The 55EMA (blue trend-line) is also showing bullish strength.
Elliott Wave (5) combined with the Red hard support line and the golden $9000 small psychological support line will only make the previous support stronger. After that I expect there will be a upward really again which we can expect to reach 10K. And will be supported by the newly formed support of $9,300 to $9,500.
The golden Log Scale trend-line also indicates the 10K price range. Which the RSI supports further. If you follow the golden trend-line on the RSI chart and the Log Scale trend-line on the BTCUSD chart, it shows a that on the RSI there is a clear overbought sign at roughly the same time the Log Scale hits the 10k Price range.
The 55EMA (blue trend-line) is also showing bullish strength.
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